Pearse Doherty (Donegal South West, Sinn Fein)
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70. To ask the Minister for Finance in respect of the report by PwC into the disposal of the Irish Bank Resolution Corporation mortgage book, a heavily-redacted copy of which was recently provided to the finance committee, if he will outline the methodology used by PwC in determining the value of underlying residential property. [18968/14]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators that the methodology used by PwC in determining the value of the underlying residential property values involved a combination of recent property valuations and an indexation of property values.

Pearse Doherty (Donegal South West, Sinn Fein)
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71. To ask the Minister for Finance in respect of the report by PricewaterhouseCoopers into the disposal of the Irish Bank Resolution Corporation mortgage book to confirm if PricewaterhouseCoopers examined the market value of residential market loans, as suggested by the disposal in 2012 of the GE Money portfolio to Pepper and the 2012 transfer of a €1.3 billion par value portfolio from Allied Irish Banks to its pension fund; and if he will make a statement on the matter. [18969/14]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised by the Special Liquidators that all assets were valued in line with standard valuation methodologies and the Ministerial Instruction. This included an assessment of current market value to third party investors and also NAMA.

Pearse Doherty (Donegal South West, Sinn Fein)
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72. To ask the Minister for Finance in respect of the report by PricewaterhouseCoopers into the disposal of the Irish Bank Resolution Corporation mortgage book if he will confirm if the price paid by Oaktree and Lone Star for the 64% of the loan book which they acquired was in excess of the run-off-value or the market-value. [18970/14]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised by the Special Liquidators that the price achieved in the recent sale of 64% of the Irish Bank Resolution Corporation Limited (in Special Liquidation) residential mortgage book was in excess of the independent valuation obtained.

The Special Liquidators will not be providing information as to the actual sales proceeds received in respect of the loan sales process as this is commercially sensitive information.

Pearse Doherty (Donegal South West, Sinn Fein)
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73. To ask the Minister for Finance further to the recent disposal by the special liquidators of the Irish Bank Resolution Corporation of 64% of its mortgage book to Lone Star and Oaktree, if he will confirm that both of these companies typically pursue returns on investment in excess of 15% per annum; if he will outline the way these companies might achieve such returns on the mortgages they have acquired from IBRC; and if he will make a statement on the matter. [18971/14]

Michael Noonan (Limerick City, Fine Gael)
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Neither I nor the Special Liquidators are in a position to comment on the intentions or subsequent actions of third party purchasers once they have purchased the loan assets.

I am advised that the contractual terms and conditions of all customer mortgages and other borrowings of Irish Bank Resolution Corporation have not changed as a result of the sale of these obligations to a third party. Purchasers of mortgage loans will be obliged to honour the legal terms of the loan agreements. Furthermore the Government has committed to bringing forward legislation to ensure mortgage holders maintain the protection of the CCMA. In the interim I am satisfied that the new purchasers have agreed to comply with the Code of Conduct on Mortgage Arrears.

Pearse Doherty (Donegal South West, Sinn Fein)
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74. To ask the Minister for Finance in respect of the report by PricewaterhouseCoopers into the disposal of the Irish Bank Resolution Corporation mortgage book the reason why only ten potential buyers were pre-interviewed when the loan portfolio is so diverse; and if he will make a statement on the matter. [18972/14]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised by the Special Liquidators that PwC conducted interviews with investor groups as part of the process of forming their independent valuation and sales strategy advice. The number of investor groups interviewed was a matter of professional judgement applied by PwC. The discussions related specifically to their independent advice for Project Sand.

I am further advised that on an overall portfolio basis, the Special Liquidators held in-bound and out-bound discussions with over 300 interested parties as part of the wider market sounding process.

Pearse Doherty (Donegal South West, Sinn Fein)
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75. To ask the Minister for Finance if, following the recent disposal by the special liquidators of Irish Bank Resolution Corporation of 64% of the mortgage book, he has considered using his shareholding in Permanent TSB or Allied Irish Banks to persuade either institution to acquire the unsold mortgages; if he considers AIB or PTSB to be better able to manage mortgages than the National Asset Management Agency; and if he will make a statement on the matter. [18973/14]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators that they are in the process of devising a further open market sales process in relation to the remaining mortgage books in IBRC the details of which will be communicated to all relevant parties in due course. 

Any decision to acquire loan books is a commercial matter for the Boards and managment of the individual banks and as the Deputy will be aware under the Relationship Framework the State does not intervene in their management decisions regarding commercial matters.